Bitcoin Trades Near $60,000 After Sharp Decline From $120,000, As ETF Outflows Accelerate

According to CNBC, Bitcoin is trading near $60,000 after declining sharply from above $120,000 earlier in the cycle, with Bitcoin ETFs recording significant outflows and retail participation notably slowing. Strategist Matt Maley of Miller Tabak pointed to weakening enthusiasm in Bitcoin ETFs alongside reduced retail engagement, noting that recent demand has not matched the intensity of prior surges.

Technical strategist John Roque of 22V Research described the $60,000 level as a critical zone being retested, with price action there viewed as a key indicator of whether the broader trend remains intact. Bitcoin-focused ETFs have recorded some of their largest monthly outflows since 2024, reflecting a shift in institutional positioning as investors respond to tighter monetary conditions and recalibrate exposure to higher-risk assets.